Tag: maintenance


Three Important Relationships That Could Save a Startup During its First Year

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The reason why most startups fail during their first year is not because they do not achieve their business goals. It is actually achieving the wrong goals that make them fail. One of these goals is to create relationships with important parties. Any business with good skill, talent and management require a reliable streamline of clients, which could only come from other places.


1. Competition
Business competition is not necessarily the enemy. If two boxers do not have an arena, there is no game at all. Building the blocks for good competition is important. Tesla’s principle for providing their competitors freedom to use their electric car patents does not make Tesla a bad investment, but it rather makes the electric car market bigger and helps retain the international interest with electric cars.

2. Employees
What most Business Processing Outsource (BPO) companies and other customer-service related businesses fail to do is value their employees. Having yearly incentives or bonuses is not an incentive enough. Allowing your employees to retain their social lives and humanity while you ask some of their time and talent to offer to your company goes a long way. Employees also want to feel valued in a positive, growing environment not focused on profitability but more of learning.

3. Consultants
Consultants are more than the people who train your head of staff and other employees. They are the backbone of industrial influence. You could get good sales and marketing leads if you develop good relationships with your consultants.


Quarterly Things to Do For Maintaining Good Finances

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Most people are only concerned with what they save on a monthly basis regardless of their financing’s standing or their credit score. Every quarter of every year, it is highly important to perform several maintenance to your finances, such as the following.

finance cleaning

1. Retirement Account Contributions
You have a retirement account and monthly your employer will just place a check or deposit money in it that would help you gain more when you finally get out of your job. However, it is highly important to take some time off to check your retirement account contributions. Sometimes, you get promotions and your employer may not indicate salary increases in your retirement contributions fairly.

2. Financial Instrument Management and Designation.
Your insurance, retirement accounts and annuities, all financial instruments, are designed to benefit you and your family. However, if you could not make use of these financial instruments in your lifetime or you unfortunately pass away before the maturity of your accounts, you could assign a designated beneficiary that you choose. It is important to check and confirm your designations or else all your work would be in vain.

3. Credit Scores
You might be sure you are paying your dues on time, but are the credit bureaus indicating the same thing? It is highly important to check your credit scores and ensure that you are on a good rating. Else, you’ll have something to make up for in the future.


Taking Care of Your Credit Scores

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Not only do you get higher interest rates when you have a low credit score, but insurance companies will actually raise your premiums because of such given that you are more prone to having financial accidents. It is very important to take care of your credit scores and you could do so by doing the following.

1. Credit Card Usage
Credit cards are useful when it comes to building credit by making sure you only use them for the things you need. A credit card used for groceries can be paid in full and on time each month. Also, avoid financing products that you don’t need for the time being using your credit card.

2. Loans
Take one financial commitment at a time when getting loans. Ensure that the loan is something that you need based on your current need. For example, if you need money to finance your child’s education, take out a respective educational loan. But if you are financing your house, only stick by to financing your mortgage and avoid other commitments; this will make it less likely for you to pay less at a later date.

3. Use Your Savings
In the event you need to spend on something that you want, it is most advised that you save money instead of using your credit card. Your credit cards and its financial plans have high interest rates. With savings, you just practice patience and you avoid debt by paying for the product in full.